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To calculate "how much house can I afford," one rule of thumb is the 28/36 rule, which states that you shouldn't spend more than 28% of your gross monthly. Use our free mortgage affordability calculator to estimate how much house you can afford based on your monthly income, expenses and specified mortgage rate. Your PITI, combined with any existing monthly debts, should not exceed 43% of your monthly gross income — this is called your debt-to-income ratio (DTI). Your. Your total housing costs should not be more than 28% of your gross monthly income. Your total debt payments should not be more than 36%. Debt-to-income-ratio . How much house can I afford based on my salary? Take account of your financial readiness to buy a house by applying the 28/36 rule. Lenders generally want to.
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